Retiring David Hurcomb to be replaced by current COO in May

NG Bailey chief executive David Hurcomb is retiring in May after 14 years in the role.

Birmingham-born Hurcomb, who turned 60 last month, joined in 2010 from Carillion where he had been a main board director.

He will be replaced by chief operating officer Jonathan Stockton, who arrived at the business in 2016 in a finance role, after nearly a decade at Deloitte.

David Hurcomb

David Hurcomb joined the M&E firm from Carillion in 2010

Stockton became COO last year in a newly created role having been chief financial officer at the M&E firm for nearly three years.

Hurcomb said: “Whilst we have faced undoubted challenges along the way, including Covid-19 and challenging wider market conditions in more recent times, I am delighted that the business is well on its way to pre-pandemic levels of performance. Indeed, early indications show an increase in turnover and expected double-digit profit figure for the 2023/4 financial year.”

>> See also: Interview: NG Bailey’s David Hurcomb

In its last set of results for the year to 3 March 2023, NG Bailey fell to a £25m pre-tax loss from a £3m profit last time. Revenue was up 6% to £532m.

The slump into the red was blamed on losses on fixed price jobs and a near £7m hit on its investment in failed battery manufacturer Britishvolt.

NG Bailey said Hurcomb will stay on for a “short period” to help with Stockton’s transition to the chief executive role.